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  • Tax

    ATED relief declaration

    Hey,

    I just got an email from my accountant this is what he has said:

    An ATED return has to be filed on an annual basis with the filing deadline being 30th April. This is due to your company owning a property which is valued in excess of £500,000 that is being let out commercially

    The charge for filing the ATED return is £225 + VAT
    .

    Do I need to fill in a ATED return? Is £225+VAT expensive? 

    Thanks

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    Yes if the conditions stated do apply to your company.

    Takes about 15 mins to do and you can do yourself by getting a government gateway and accessing the ated service online.

    Deb

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    Debbie Franklin

    Director of Tax Peplows Limited

    CTA ACA FCCA

    Thanks very much indeed for explaining how pain free the process seems to be.

    I was put off buying property >£500k as the 5 I own via a company were all valued at less than £500k when I had the leases extended last year.

    I would of just asked my exisiting accountant whose fees are very reasonable the answer but he has sold on the business.

    I gave him the numbers that make up my accounts into recepits,  normally just rental income and  payments divided into management fees, service charge etc and the opening and closing bank account figures reconciled to these. So opening balance plus receipts less payments = closing balance.

    He made up my company accounts and my tax return each year in July.

    He also made managed my payrole.

    I am the only person on the companies payrole and receive an annual payment in July to enable me to claim a stamp.  Also as I only receive money from property the ltf company meant I could continue to pay into my SIPP

    Anyways I would sppreciate a quote as to how much you would charge to prepare my accounts/ tax return, payrole

    Happy to send any more information required

    all the best

    Peter Jones

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    if you can send me a sample of your book keeping to debbief@peplows.co.uk would be delighted to

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    Debbie Franklin

    Director of Tax Peplows Limited

    CTA ACA FCCA